Sears files Bankruptcy

[Jack Klarich]

https://www.usatoday.com/story/money/2018/10/15/sears-bankruptcy/1595399002/

I have been feeling this since I retired

Mr Lambert had no clue how to run this great Icon

Glad I bailed in time to secure my pension

 

[peteg59]

Hopefully Sears can somehow stay afloat in the internet age.

They were the greatest/largest dept store in the country at one time. A virtual "one stop shop" where you could buy about anything for the home or garage without having to go to several stores to get what was needed.

We've lost 3 major "anchor" Sears mall stores in NH since the downsizing began, leaving 1 remaining last hope for survival going forward.

Not sure their current business model will pull them through this, but I feel for the retiree's who depend on their income from Sears...

 

[rhino 2]

https://www.usatoday.com/story/money/2018/10/15/sears-bankruptcy/1595399002/

I have been feeling this since I retired

Mr Lambert had no clue how to run this great Icon

Glad I bailed in time to secure my pension

Their problems started longer than that, About 15 plus or minus years ago they got rid of most the sale staff especially in hardware/tools and only one person on the register while there was 4 unmanned registers collecting dust..And if you wanted to know how much a tool cost you would have to find that register to get the price And that was one of the starts of their down fall

 

[Peter A.]

Sears

After I retired from my REGULAR job I went to work part-time for Sears......enjoyed

a couple years there but ending up SPENDING my earnings for all the discounts & one-of,

items I was able to get, HA. Long story short HATE TO SEE THIS GREAT AMERICAN ICON

disappear, BACK in the day SEARS was THE STORE for BACK TO SCHOOL, etc.

AHHHHH, the ‘ole days!

:Coffee:

 

[Jack Klarich]

Their problems started longer than that, About 15 plus or minus years ago they got rid of most the sale staff especially in hardware/tools and only one person on the register while there was 4 unmanned registers collecting dust..And if you wanted to know how much a tool cost you would have to find that register to get the price And that was one of the starts of their down fall

In 2010 ALL the stores went under job cutting

Sears hoped to force older employees to retire

That did not work too good, so they started switching to part time managers that ran amuck scheduling less staff, it prompted shoppers to leave merchandise at counters and several choice words for Sears

The buyers that worked for Sears never learned how to broker better buying deals, guess they should have checked with Trump

All in all Eddie Lambert proved to be the real down fall, he was secretly only interested in the property Sears owned out right, ( not malls) Sears was clever in years past, they would buy property develop malls and get a 99 year lease pretty clever. How ever the take over that began with K mart was a good move to gain their properties. Most ALL K Marts had been owned lock stock and barrel, making it an attractive purchase.

IMO, Eddie could have turned Sears around if he would have listened to the board instead of trying to do it all on his own

We had many pep rallies by teams from Chicago over the dark years telling us Sears would be OK Now you see that is not true

 

[Sully]

Buying the K-Mart chain didn't help either. Craftsman tools were made in the USA, then they switched to made in China and other countries.